Investor News

Advancing Matmor in Attractive Markets

Key points:

  • Independent market report identifies niche, high margin opportunities that are not being exploited by traditional or emerging technologies
  • MATMOR's unique design uses low ranking coals to produce high quality iron product
  • Electric Arc Furnaces represent a market in excess of 435 million metric tonnes (mmt) a year and together with induction furnaces are identified as key beneficiaries from MATMOR uptake

Environmental Clean Technologies wishes to announce it has received the independent report titled Advancing MATMOR: Identifying Attractive Markets, which delivers on the market analysis recommendations made by HATCH in their technical analysis announced on 15 February 2010 (MATMOR Advancement Update).

The report, prepared by Melbourne based energy and resources consulting firm NEGOTIACTION, identifies niche, high margin opportunities that are not being exploited by traditional or emerging technologies and provides additional support for the ongoing development of the MATMOR technology

MATMOR's unique retort design uses low rank coals (lignite and sub-bituminous coal) to produce a high quality, high purity and high iron content product.

ECT Chairman Mr David Woodall commented;

"There are several factors in favour of MATMOR - a significant increase in steel demand throughout Asia and India, increasing input prices, and the need for a low-cost operation that can be deployed at a regional level. In addition, MATMOR has the potential to deliver environmental benefits with greater energy efficiency and reduction in emissions."

Mr Kos Galtos, ECT Chief Executive said;

"The MATMOR process continues to show significant potential. The Independent Marketing Report and preliminary Technical Report confirms our belief that the market dynamics are very favourable for the deployment of MATMOR. Given the intricacies of the process there are variables which we, in conjunction with our technical partners, will work through in a disciplined and methodical fashion to achieve our goal of commercialisation"

"Pending technical advances being made in our gap closure campaign and the results of our iron-bearing media and low rank coal testing program, ECT will seek partners with which it intends to pursue the development of a pilot scale plant."

Boardroom Radio Interview - click here to listen to Kos Galtos interview on Boardroom Radio.

For Further Information Contact:

Kos Galtos - Chief Executive +61 3 9909 7684 or [email protected]